2820 Tennis Club Dr #401 · Schall Circle, FL 33417

$195,000

3 bd · 2.0 ba · 1,610 sqft · Condo public records · 70 Days on market

Built 1979 $807/mo HOA · 25% of rent

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.9/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

SPACIOUS AND BRIGHT 3 BEDROOM/2BTH , 4TH FLOOR PRIME END UNIT WITH FOYER, HALLWAYS , OPEN KITCHEN, ALL STAINLESS STEEL APPLIANCES, WHITE CABINETS , PLUS STACK WASHER/DRYER IN KITCHEN WITH ALL MEXICAN TILE THRU OUT AND ALLNEW CARPET IN ALL 3 LARGE BEDROOMS, BLINDS/VERTICALS IN ALL ROOMS, UNIQUE MASTER BATH, SCREENED BALCONY, 1 DEEDED PARKING SPACE AND GUEST . COMMUNITY ROOM , POOL, GAZEBO OVERLOOKING TENNIS COURTS, TENNIS MEMBERSHIPS ARE OFFERED FOR PRIVATE TENNIS COURTS, CLOSE TO SHOPPING, A/P AND DOWNTOWN. 650 MIN CREDIT SCORE AND NO PETS OR SMOKERS ALLOWED FOR TENANTS,

Key facts

• Stack washer dryer
• Mexican tile
• Foyer

Tags

• FOYER
• OPEN KITCHEN
• STAINLESS STEEL APPLIANCES
• WHITE CABINETS
• STACK WASHER DRYER
• MEXICAN TILE

Property features AI

Finance

• HOA & community: TCPB, TENNIS CLUB association; Monthly HOA fee of $807; Association covers maintenance of grounds, pest control, sewer, trash and water; Community amenities include clubhouse, elevator(s), pool, tennis courts, community room, management with manager on site, sidewalks and street lights; 163 units in the community; Pets not allowed

Exterior

• Parking: Deeded parking; Guest parking; 1 parking space total
• Utilities: Public water; Public sewer; Three-phase electric; Cable available; Electricity available; Sewer available; Water available
• Home design: Condominium; One level; Faces east; Resale property
• Construction: CBS construction; Pre-stressed roof; 5-story building
• Exterior features: Sidewalks; City street frontage; No waterfront; No other structures

Interior

• Kitchen: Electric range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level); Accessible bedroom and accessible closets
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (both on the main level); Accessible full bath
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Entrance foyer; Walk-in closets; Roman tub; Single hung metal and sliding windows
• Laundry & utility: Laundry closet with washer hookup inside; Electric water heater; Accessible washer/dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#762 in FL) — a middle-class / working-renter tenant base. Strengths: housing A, cost of living A-; Watch: amenities F, commute F, employment F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Egret Lake Elementary School (math 32% / reading 37%, grade F, #1,709 of 2,144 statewide, top 81%, 569 students, 80% FRL); Bear Lakes Middle School (math 19% / reading 33%, grade F, #506 of 571 statewide, top 89%, 842 students, 74% FRL); Palm Beach Lakes High School (math 17% / reading 26%, grade F, #546 of 667 statewide, top 82%, 2,688 students, 70% FRL) — zoned schools average 75% FRL vs 52% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 50% district-wide (-22 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 473 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• At $3,235/mo this rent would consume 75% of the median local household income ($52k/yr) (locally 2548% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago; this cycle's ask is 9186% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $90k; list at $195k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.66% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.02% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.70×
• Total profit: $-16,423
• Equity at exit: $29,075

10-year hold

• IRR: -6.2%
• Equity multiple: 0.68×
• Total profit: $-17,497
• Equity at exit: $16,860

Cash invested: $54,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33417

• Home prices YoY: -29.2%
• Rents YoY: 0.0%
• Active inventory: 473
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $3,235 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$268 /mo · $3,211/yr
• Insurance: −$81
• HOA: −$807
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $377

Break-even live

Break-even rent $2,758

Max offer price $195,000

Occupancy floor 83%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2820 Tennis Club Dr #408 West Palm Beach, FL	3.0	2.0	1610	$3,800	$2.36	24d	1	0.03mi
1211 Pine Sage Cir West Palm Beach, FL	3.0	2.0	1367	$3,200	$2.34	5d	1	0.75mi
105 E Wellington Dr #105 West Palm Beach, FL	2.0	2.0	1062	$1,850	$1.74	24d	1	0.99mi
306 Wellington B West Palm Beach, FL	2.0	2.0	1062	$1,800	$1.69	20d	1	1.02mi
4855 Elmhurst Rd West Palm Beach, FL	3.0	2.0	1427	$3,600	$2.52	24d	1	1.07mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,000	$1.99	7d	1	1.09mi
3810 Rowena Cir West Palm Beach, FL	2.0	2.0	1505	$3,150	$2.09	13d	1	1.09mi
1912 Stratford Way West Palm Beach, FL	2.0	2.5	1350	$3,000	$2.22	24d	1	1.28mi
6109 Reynolds St West Palm Beach, FL	4.0	2.5	1627	$2,695	$1.66	24d	1	1.28mi
6109 Reynolds St West Palm Beach, FL	4.0	2.5	1627	$2,695	$1.66	18d	1	1.28mi
4567 Brook Dr West Palm Beach, FL	3.0	2.0	1528	$3,000	$1.96	24d	1	1.35mi
4385 Willow Brook Cir West Palm Beach, FL	3.0	2.0	1468	$3,200	$2.18	21d	1	1.44mi
3760 N Jog Rd West Palm Beach, FL	3.0	2.0	1375	$2,500	$1.82	24d	1	1.45mi
1639 Barbarie Ln West Palm Beach, FL	3.0	1.0	1100	$2,400	$2.18	24d	1	1.47mi
2055 Regents Blvd West Palm Beach, FL	3.0	3.0	2166	$6,900	$3.19	24d	1	1.47mi

HOA detail condo

• Monthly dues: $807 · $9,684/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $195,000 Active 70 DOM
2. 2026-06-17
   days on market $195,000 Active 69 DOM
3. 2026-06-16
   days on market $195,000 Active 68 DOM
4. 2026-06-15
   days on market $195,000 Active 67 DOM
5. 2026-06-13
   days on market $195,000 Active 65 DOM
6. 2026-06-09
   days on market $195,000 Active 61 DOM
7. 2026-06-08
   days on market $195,000 Active 60 DOM
8. 2026-06-07
   days on market $195,000 Active 59 DOM
9. 2026-06-04
   days on market $195,000 Active 56 DOM
10. 2026-06-03
    days on market $195,000 Active 55 DOM
11. 2026-06-02
    days on market $195,000 Active 54 DOM
12. 2026-06-01
    days on market $195,000 Active 53 DOM
13. 2026-05-31
    days on market $195,000 Active 52 DOM
14. 2026-04-21
    listed $2,100
15. 2026-04-09
    listed $195,000 Active
16. 2026-04-09
    historical
17. 2026-03-31
    historical $2,000
18. 2026-03-05
    price $2,000
19. 2025-12-19
    listed $2,100
20. 2025-12-05
    price $195,000
21. 2025-11-04
    status Active
22. 2025-11-01
    historical
23. 2025-08-18
    price $199,000
24. 2025-07-25
    price $209,500
25. 2025-07-14
    price $219,000
26. 2025-07-14
    price $210,900
27. 2025-06-09
    price $224,900
28. 2025-05-28
    price $245,000
29. 2025-04-09
    listed $249,900 Active
30. 2014-10-28
    historical
31. 2002-11-05
    listed $129,500
32. 2002-04-12
    soldstatus $90,500
33. 2002-04-11
    soldstatus $90,500
34. 2002-02-25
    historical
35. 2002-01-11
    listed $89,000
36. 1996-12-10
    soldstatus $67,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $3,211 · $268/mo
• Projected year-2 tax: $3,211 · $268/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $38,823
• − Mortgage interest: −$10,923
• − Property taxes: −$3,211
• − Insurance: −$975
• − Repairs & maintenance: −$3,106
• − Management: −$3,106
• − HOA: −$9,684
• − Depreciation: −$5,673
• Taxable income: $2,145
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $4,014/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — Schall Circle

• Score: 62/100
• State rank: #762
• US rank: #16849

Category grades

Amenities F Commute F Cost of living A- Crime B- Employment F Housing A Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 38,079
• Household income: $51,605
• Rent vs Own: 40.9% rent · 59.1% own
• Severe rent burden: 2548.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 34% Black 30% Hispanic / Latino 27% Two or more races 16% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Cuban 5% Dominican 2%
• Common ancestry: Hispanic 10% Romanian 3% Scotch-Irish 1%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 24% French/Haitian/Cajun 11% Other Indo-European 3%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -138.62%
• Current HPI: 335.8396
• Rent YoY: ▬ 0.02%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

-96.9% since first listed

23 events — show timeline

• 2026-04-21 Listed for Rent $2,100 RMLSFL
• 2026-04-09 Listing Removed — Beaches MLS
• 2026-04-09 Listed $195,000 Beaches MLS
• 2026-03-31 Rental Removed $2,000 RMLSFL
• 2026-03-05 Price Changed $2,000 RMLSFL
• 2025-12-19 Listed for Rent $2,100 RMLSFL
• 2025-12-05 Price Changed $195,000 Beaches MLS
• 2025-11-04 Relisted — Beaches MLS
• 2025-11-01 Listing Removed — Beaches MLS
• 2025-08-18 Price Changed $199,000 Beaches MLS
• 2025-07-25 Price Changed $209,500 Beaches MLS
• 2025-07-14 Price Changed $219,000 Beaches MLS
• 2025-07-14 Price Changed $210,900 Beaches MLS
• 2025-06-09 Price Changed $224,900 Beaches MLS
• 2025-05-28 Price Changed $245,000 Beaches MLS
• 2025-04-09 Listed $249,900 Beaches MLS
• 2014-10-28 Listing Removed — Beaches MLS
• 2002-11-05 Listed $129,500 Beaches MLS
• 2002-04-12 Sold (Public Records) $90,500 Public Records
• 2002-04-11 Sold (MLS) $90,500 Beaches MLS
• 2002-02-25 Listing Removed — Beaches MLS
• 2002-01-11 Listed $89,000 Beaches MLS
• 1996-12-10 Sold (Public Records) $67,000 Public Records

Property tax history

+6.5%/yr

Latest (2025): $3,211 · +9.5% YoY. Source: county tax records.